The Securities Exchange Commission’s (SEC’s) primary function is to protect investors, by drafting and enforcing regulations which hold firms accountable for their actions. One fundamental example of this is that all interactions between brokers and investors must be scrutinized, to ensure no wrongdoing.
The prevalence of digital communications in the modern world has prompted a regulatory overhaul, and since September 2022, the SEC has expanded record-keeping requirements significantly. Two of their standout actions are listed below.
- Rolling out a new marketing rule, which has fundamentally altered which communications must be captured by regulated firms.
- Alongside the Financial Industry Regulation Authority (FINRA) and Commodities Futures Trading commission (CTFC), administering billions of dollars worth of penalties in an industry-wide crackdown on the illicit use of mobile devices.
As a result of this activity, compliance has taken center stage. Communications surveillance platforms are now less of an insurance policy and more of a mandatory requirement. More than ever, the compliance function directly impacts staff behaviors, and so its implementation will affect the entire organization it serves, rather than just the compliance team. It’s no longer just a box to be ticked.
Read the full article, here.
Source: Global Banking & Finance Review
Our range of innovative solutions can be tailored to suit your unique requirements, no matter whether you’re currently working from home, or are continuing to go into the office. Our services can be deployed individually or combined to form a broader solution to release your energies and focus on your clients.
Why Not Download our FREE guides.
Call Us Today on 020 8087 2377 or send us an email.
Connect with us via social media and drop us a message from there. We’d love to hear from you and discuss how we can help.